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Petrol Price in New Delhi (23rd October 2018)

Petrol prices in New Delhi have been turning more volatile, as prices of crude oil have been showing a firm trend. It is important to check todays petrol price in New Delhi (₹81.44), especially if you are going for a long drive. Remember, petrol and diesel prices are revised daily, so you can lose much, if you are travelling on a long distance. The rupee has also moved lower against the dollar, which has made petrol prices in New Delhi more expensive than before. It is hoped that the government can reduce excise duties, so as to enable rates to become more cheaper in the coming days.

Oct 22, 2018
₹ 81.44 /Ltr (₹ -0.30 )

Last 10 Days Petrol Rate in New Delhi

Date Price Price Change
Oct 21, 2018 ₹ 81.74 ₹ -0.25
Oct 20, 2018 ₹ 81.99 ₹ -0.39
Oct 19, 2018 ₹ 82.38 ₹ -0.24
Oct 18, 2018 ₹ 82.62 ₹ -0.21
Oct 17, 2018 ₹ 82.83 ₹ 0.00
Oct 16, 2018 ₹ 82.83 ₹ 0.11
Oct 15, 2018 ₹ 82.72 ₹ 0.00
Oct 14, 2018 ₹ 82.72 ₹ 0.06
Oct 13, 2018 ₹ 82.66 ₹ 0.18
Oct 12, 2018 ₹ 82.48 ₹ 0.12

Daily & Monthly Petrol Price in New Delhi : Graphical Representation

Historical Petrol Price in New Delhi

  • Trend of Petrol Rate in New Delhi, September 2018
  • Petrol Price
    1 st September Rs.78.68
    30th September Rs.83.49
    Highest rate in September Rs.83.49 on September 1
    Lowest Rate in September Rs.78.68 on September 1
    Over all performance Rising
    % Change +5.76%
  • Trend of Petrol Rate in New Delhi, August 2018
  • Trend of Petrol Rate in New Delhi, July 2018
  • Trend of Petrol Rate in New Delhi, June 2018
  • Trend of Petrol Rate in New Delhi, May 2018
  • Trend of Petrol Rate in New Delhi, April 2018

Petrol prices in Delhi are now changing everyday, as against every 15 days before. We are providing daily petrol price rates, so you can check the same on goodreturns.in

The advantage of doing that is you know when to fill petrol and make maximum use of falling petrol prices. In any case Delhi petrol rates are much lower then some of the other cities in India. It also sets the trend for an increase or decrease in rates in various other cities of India. The rates would be largely determined by the largest oil marketing companies in India, that is Indian Oil, Bharat Petrolem and Hindustan Petroleum. You would do well to check the rates given the fact that if you fill same about 30 to 40 litres petrol you could tend to lose a lot. Now that petrol prices in Delhi have been dergulated like many other cities in the country.

How are petrol prices in Delhi determined?

Petrol rates in Delhi largely depend on how international prices of crude oil move. It is largely linked to international crude prices, which trade abroad. There is also an India crude basket, which largely determines the prices of Petrol in Delhi. It is always advisable to check the petrol prices, if you are planning to fill your automobile to the brim. A small change in rates can be mean a lot when you have larger volumes of diesel or petrol to fill. Diesel prices in Delhi also more or less move in a smilar way.

Increasing trend in the last few days

Lately, we have been seeing an increasing trend of petrol prices rallying in several cities. In fact, in places like Delhi they have now hit the Rs 72 per litre mark. This has happened as international prices of crude have gone higher and there is every possibility that there could be a further increase in prices.

The government has in the past cut the excise on petrol to make-up for the huge gains seen in the prices of petrol. However, any such cuts in the excise tends to impact the government's fiscal deficit.

If the trend of an increase in Delhi prices of petrol today continues, we may soon realize that rates have now hit a three year high and this is not good news for any government.

An urgent cut in the prices of the fuel is needed to be implemented by the government at the earliest.

How petrol prices are influenced in Delhi?

Todays petrol prices in New Delhi are a result of a host of a factors that influence rates. Among these include world prices of the fuel. At the moment Brent Crude prices are trading at $64. When these prices go higher, the India crude basket goes higher, which in turn alters the daily price of petrol in Delhi. A similar thing can be seen as far as diesel is concerned. 

It is hence a good idea to check prices of the fuel before leaving your home. For the last few days there has been a declining trend at the retail level. Once petrol and diesel prices are bought under the ambit of the Goods and Services Tax, we may see these prices declining in the coming days. In the meantime, we would have to continue to pay the desired sum and wait for a fall in todays petrol rates in New Delhi.  

 How Petrol Prices in New Delhi Today are calculated?

Fuel rates in India depend on a host of things. Petrol prices in Delhi today depend on the India crude basket, transportation costs, value added taxes and excise duty levied by the government.

The fuel costs in the city are pretty high, though they are way lesser than what Mumbai charges. The city has one of the highest value added taxes, which has pushed petrol prices higher.

In India, when excise by the government is hiked, petrol prices in Delhi tend to increase. At the moment, excise is slightly more than Rs 21. The local government also tends to tinker with the value added tax, which tends to inflate the fuel rates.

The currency also plays a big role, in pushing the price of petrol and diesel either way. If rates tend to move in one direction heavily, the government can cut or hike rates accordingly.

 Overall, it is likely that we will see sharp cuts in the prices of the fuel in the coming days. International prices have the biggest bearing and any drop in these tend to help rates cuts. Movement of the rupee against the dollar also tends to impact petrol and diesel prices accordingly.

So, for calculation of todays petrol price in Delhi one has to taken into account, excise, value added tax, India crude basket and currency movement. 

 

Petrol Prices in New Delhi Shrinks Amid Closure Of Petrol Bunks

The petrol prices in New Delhi was cut amid a rise in crude prices in the global market. The petrol rates in New Delhi stood at Rs 81.44 per litre, down by 30 paise.

In the international market, crude prices inched up amid concerns over the sanctions on Iran is looming the oil industry. The U.S. sanctions on Iran related to petroleum products will come into effect from November 4. Apart from this, the worsening diplomatic crisis between the U.S. and Saudi Arabia over the disappearance and murder of Saudi Arabia based journalist Jamal Khashoggi has blown the situation out of proportion.

Most of the U.S. lawmakers are pushing in the idea to impose sanctions on the desert kingdom over the killing of Saudi journalist. The kingdom country has vowed to retaliate with bigger measures in case of sanctions and this has helped the crude prices to surge up. Brent is currently trading at $79.94 per barrel and WTI is at $69.41 per barrel.

The Delhi Petrol Dealer’s Association has shut its 400 petrol pumps in Delhi to protest against the AAP led government’s refusal to cut the state-based value added tax on petrol and diesel. Two of the adjoining states of Delhi – U.P. and Haryana has trimmed the state-based tax on fuel and as a result of this, there is a sharp dip in the fuel sales in the national capital.

The Indian rupee strengthened against the dollar and was seen trading at 73.45 mark during today’s trade session. The rise in rupee value will make the dollar-priced crude cheaper for purchase.

22 October 2018
Petrol Prices in New Delhi Inches Down Amid Rise in U.S. Crude Inventories

The petrol prices in New Delhi inched down amid rise in crude inventories in the U.S which in turn led to the decline of global crude prices. The petrol rates in Delhi were at Rs 81.99 per litre, down by 39 paise.

In the global market, crude prices have declined over the last few days and Brent was seen trading at $79.78 per barrel and WTI was at $69.28 per barrel.

The oil major, Iran seems to be unfazed ahead of the U.S. sanctions on its petroleum products which will hit Tehran starting from November 4. An unprecedented volume of crude is set to arrive at China’s northeast Dalian port this month and also in the early month of November 2018 as per Iran’s shipping source.

The rise in U.S. inventories led to the decline of crude prices in the international market and hence petrol rates in New Delhi were trimmed. Apart from this, the Indian rupee also gained against the dollar during yesterday’s trade session and was seen trading at 73.48 mark.

20 October 2018
Petrol Prices in New Delhi Inches Down Due To Fall In Crude Prices

The petrol prices in New Delhi inched down amid fall in crude prices in the global scenario. The petrol rates in New Delhi stood at Rs 82.62 per litre, down by 21 paise.

The crude prices dipped below $70 mark per barrel for the first time in the last few months amid the rise in the U.S. crude stockpiles which increased triple times than expected by the analysts. The exports of crude also declined which in turn led the fall in crude prices. The WTI was seen trading at $69.79 per barrel and Brent at $80.08 per barrel.

The return of the U.S. sanctions on Iran has tightened the oil industry. The industry is witnessing turbulence as most of the oil importing countries are worried about the continuous supply of oil from Iran which is currently the third largest oil importer in the world.

The recent missing case of Saudi Arabia based journalist, Jamal Khashoggi has raised tension in Saudi Arabia as the U.S. suspect that he might have been killed at the behest of the Saudi rulers triggering geopolitical strain between the U.S. and Saudi Arabia.

Meanwhile, the rupee gained during today’s trade session marginally against the U.S. dollar and was seen trading at 73.68 mark.

18 October 2018
Petrol Prices in New Delhi Remains Same Despite Decline in Crude Oil

The petrol prices in New Delhi remained the same despite downfall in the global market. The petrol rates in New Delhi stood at Rs 82.83 per litre.

The crude oil rates dipped in the international market after an industry data revealed the decline in the U.S. crude inventories and mounting tension over the disappearance of a Saudi Arabia based journalist. WTI was seen at $71.54 per barrel, down by 0.53% and Brent at $81.14 per barrel, down by 0.33%.

The U.S. crude oil inventories dipped by 2.13 million barrels over the last week and this led to the decline in crude prices in the global market. Apart from this, the disappearance of a Saudi Arabia based journalist from Turkey’s consulate triggered tension between the U.S. and Saudi Arabia.

The rallying crude prices in the global market has led to the increase in petrol rates in the country.

17 October 2018
Petrol Prices in New Delhi Inches Up Amid Rise in Crude Prices

The prices of petrol in New Delhi inched up amid rallying of crude prices in the global market ahead of the return of the U.S. Sanctions on Iran. Petrol prices in New Delhi stood at Rs 82.83 per litre, up by 11 paise.

The global crude prices gained amid the data which revealed that Iran’s export for October has shrunk compared to the September’s oil exports. Tehran’s crude export for the month of October is at 1.33 million barrels per day (bpd) down from September’s oil export of 1.6 million bpd. There is a sharp decline in oil export from Tehran to the tune of 2.5 million bpd for October 2018.

WTI was seen trading at $71.61 per barrel and Brent at $80.65 per barrel.

The Indian rupee weakened by 9 paise to touch 73.92 mark against the dollar during today’s trade session amid increased demand for the U.S. dollar from banks and importers. The fall in the value of rupee has made dollar-priced crude expensive and hence petrol prices in New Delhi, the national capital of India has gone up.

16 October 2018
Petrol Prices in New Delhi Remains Constant

The petrol prices in New Delhi stood constant despite the rise in crude prices owing to tension in Saudi Arabia. The petrol rates in New Delhi was at Rs 82.72 per litre.

The global crude prices surged up amid rising Saudi tensions, with WTI at $71.76 per barrel and Brent at $81.23 per barrel. The disappearance of a famous Saudi journalist at the Saudi consulate in Istanbul led to the oil supply worries. The oil major has been under pressure since then.

Analyst feels that Saudi may use oil as a tool for retaliation if any sanctions or another kind of actions are taken against it.

U.S. President – Donald Trump threatened severe punishment if it is found that Jamal Khashoggi, a prominent Saudi journalist was killed in the consulate. In its defence, the Saudi denied charges and stated that it would retaliate to any action against it over the Khashoggi case.

Today, the Indian rupee gained against the strong dollar and was seen trading at 73.76 mark.

15 October 2018
Petrol Prices in Delhi Inches Up By 18 Paise

The petrol prices in Delhi surged up following global cues wherein the crude prices gained amid the return of the U.S. sanctions on Iran. The petrol rates in Delhi were recorded at Rs 82.66 per litre, up by 18 paise.

In the global market, crude oil gained marginally with WTI at $71.34 per barrel, up by 0.52% and Brent at $80.43 per barrel, up by 0.21%.

The International Energy Agency (IEA) stated in its monthly report that the spare oil production capacity is down by 2 percent of the global demand and expected a further fall in the future. Apart from this the OPEC member countries which have stepped in to increase the oil output is hesitating to increase the oil production fearing a shortage of oil for the next fiscal. Apart from this, the IEA has also cut the forecast for global oil demand growth for current, as well as next fiscal, owing to an adequately supplied market.

In India, the rupee gained against the dollar by 55 paise to close at 73.57 mark during yesterday’s close. The rupee tumbled against the dollar after the crash of the Dow Jones and other stock markets across the globe to touch a lifetime low of 74.48 mark on Thursday.

13 October 2018
Petrol Prices in New Delhi Rises Up By 12 Paise

The petrol prices in New Delhi rose up following global cues amid the rise in rupee value. The petrol rates in New Delhi were recorded at Rs 82.48 per litre, up by 12 paise.

In the global scenario, crude prices rose by 1 percent owing to robust Chinese crude imports. WTI was up by 1.21% at $71.83 per barrel and Brent was seen trading at $81.30 per barrel, up by 1.30%.

The Chinese customs data revealed that crude oil imports have surged up in the month of September to hit the highest level since May. Added to this, the OPEC member countries has trimmed its global growth demand for oil for next fiscal year for a third straight month due to headwinds facing the broader economy arising out of trade disputes and volatility amongst emerging markets.

Meanwhile, the rupee gained moderately against the dollar during today’s early trade session and was seen trading at 73.70 mark ahead of the release of Consumer Price Index based (CPI) inflation and Index of Industrial Production data later today.

12 October 2018
Petrol Prices in New Delhi Up By 10 Paise Per Litre

The petrol prices in New Delhi were up in spite of a decline in crude prices in the international market. The petrol rates in New Delhi stood at Rs 82.36 per litre, up by 10 paise with effect from today morning.

The crude prices sank in the international market amid an industry data which showed a rise in the U.S. crude inventories more than expected. WTI was down by 1.16% at $72.32 per barrel and Brent slid by 1.18% at $82.11 per barrel.

The U.S. crude stock edged up more than expected during last week. The gasoline inventories were up said a report from the American Petroleum Institute which was released on Wednesday.

The decline in the US markets led to the plunging of stocks in the Asian markets too and added to this the Indian rupee depreciated further to hit an all-time new low of 74.46 against the dollar. The fall in the rupee has made the dollar-priced crude costlier for purchase and thus the prices of petrol are up in the domestic market – New Delhi.

11 October 2018
Petrol Prices in New Delhi Stands Firm

The petrol prices in New Delhi stood firm despite downfall in crude prices owing to cut in global growth forecast by the IMF. The petrol rates in New Delhi were recorded at Rs 82.26 per litre.

In the global scenario, crude rates edged lower as the International Monetary Fund (IMF) cut its global growth forecast for fiscal 2018 and fiscal 2019 respectively owing to raising concerns over demand for oil products may slump in the near future. The WTI was seen trading at $74.90 per barrel and Brent was at $85.04 per barrel.

Apart from this, the IMF noted that the ongoing trade tariff war added with rising import tariffs are taking a toll on commerce and most of the developing economies are struggling with tightened financial conditions and capital inflows.

In India, the rupee continued to slump and today it was seen trading at 74.15 against the strong dollar. The fall in the rupee makes the dollar-priced crude costlier. The rallying crude prices have already ballooned the current account deficit of India to touch a whopping $187.8 billion for fiscal 2018. 

10 October 2018

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